Location

Date

Duration

Language

Discipline

Introduction

This 5-day course provides a solid foundation in purchasing, negotiation, and cost reduction techniques for professionals in procurement and supply chain management. It covers the core principles of effective purchasing strategies, the key skills needed for successful negotiation, and methods for identifying and implementing cost-saving initiatives within the procurement process. The course is designed to enhance participants’ ability to optimize purchasing decisions, negotiate favorable terms with suppliers, and contribute to cost-efficient procurement operations.

Objective

• Understand the fundamental concepts and processes involved in purchasing and procurement.
• Develop strategic purchasing plans aligned with organizational goals.
• Apply key negotiation techniques to secure better terms and pricing with suppliers.
• Identify opportunities for cost reduction within the procurement process.
• Manage supplier relationships to ensure long-term value and performance.

Audience

• Purchasing and procurement managers
• Buyers and purchasing agents
• Supply chain professionals
• Financial analysts involved in procurement
• Operations and logistics managers
• Professionals involved in negotiating contracts and managing supplier relationships

Content

Day 1: Introduction to Purchasing Fundamentals

• The role of purchasing in the supply chain
• Key concepts in procurement and purchasing management
• Types of purchasing (Direct vs. Indirect)
• Supplier selection and evaluation criteria
• Procurement policies, ethics, and compliance

Day 2: Strategic Purchasing Techniques

• Developing purchasing strategies aligned with organizational goals
• Market analysis and demand forecasting techniques
• Supplier relationship management (SRM)
• Identifying cost-effective suppliers and alternatives
• Purchase order and contract management

Day 3: Negotiation Skills and Techniques

• Preparing for successful negotiations
• Key negotiation tactics and strategies
• Understanding negotiation dynamics and power
• Negotiating favorable terms: pricing, delivery, payment terms
• Overcoming objections and resolving conflicts in negotiations

Day 4: Cost Reduction Strategies in Procurement

• Identifying cost drivers and opportunities for savings
• Implementing cost-effective purchasing and sourcing strategies
• Volume purchasing, long-term contracts, and bulk discounts
• Managing inventory and reducing wastage
• Supplier collaboration for joint cost savings

Day 5: Supplier Performance Management and Advanced Topics

• Supplier performance monitoring and key performance indicators (KPIs)
• Vendor management and performance improvement
• Risk management in procurement
• Technology and tools in procurement management (e.g., eProcurement platforms)
• Final review and key takeaways

Certificate

MAESTRO CONSULTANTS Certificate of Completion for delegates who attend and complete the training course.

Methodology

METHODOLOGY

Our courses are highly interactive, typically taking a case study approach that we have found to be an effective method of fostering discussions and transferring knowledge. Participants will learn by active participation during the program through the use of individual exercises, questionnaires, team exercises, training videos and discussions of “real life” issues in their organizations.
The material has been designed to enable delegates to apply all of the material with immediate effect back in the workplace.

Fees

$5,250 per attendee including training material/handouts, morning/afternoon coffee breaks, and Lunch.